Monday, December 28th, 2020
Trump Signs Relief Deal, Xmas Day Bomber & Box Office Winner
All the news you need in about 10 min:
This episode is brought to you by NativeDeo.com/newsworthy and BlueNile.com
Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want to review the latest happenings...
Trump Signs Relief, Spending Bill
President Trump signed the $900 billion COVID-19 relief bill into law and with it, also passed the $1.4 trillion government spending bill, avoiding a government shutdown. It’s not clear why President Trump decided to sign now. Lawmakers from both parties passed the bill a week ago and President Trump has been demanding changes, including larger payments for individual Americans. The House is voting today on a separate bill to raise payments from $600 to $2,000. It’s not clear if the Senate will take it up too.
Read More: NPR, WSJ, WaPo, White House
Nashville Explosion Investigation
Federal investigators are working to figure out why a man set off a bomb Christmas morning in Nashville, Tennessee. They say 63-year-old Anthony Quinn Warner was behind it. He died in the explosion. Police say the morning of the blast, he parked his RV in downtown Nashville, blaring evacuation warnings for about 15 minutes before the RV exploded. The explosion damaged dozens of buildings and seriously hurt three people. They are all expected to survive. Now, investigators are searching for a motive.
Read More: Nashville Tennessean, AP, NBC News, ABC News
Vaccine Allergic Reactions
Scientists are getting closer to understanding why some people are having allergic reactions to COVID-19 vaccines. So far, six people who received the shot in the U.S. reported getting a severe allergic reaction out of nearly two million. Now, scientists with the FDA think polyethylene glycol, or PEG, could be to blame. It’s also used as an ingredient in some medicines, as well as some cosmetics. However, the journal Science says it’s never been used in an approved vaccine. Allergies to PEG are extremely rare.
Read More: WSJ, Axios, NY Times, CDC, Science Mag
UK, EU Trade Deal
The UK and EU reached a trade deal just in time. Exporters no longer need to worry about high tariffs or quotas on items moving between them. However, it will be a little tougher for companies, like banks, to offer services across the region. This deal was reached with just days to spare before Brexit becomes official on Thursday. Lawmakers in Britain and Europe still need to vote to approve the trade deal in the coming days.
Read More: Reuters, Politico, CNBC, Full Text
China to Overtake U.S. as Largest Economy
China could soon become the world’s largest economy. The Center for Economics and Business Research says China will overtake the U.S. in the top spot by 2028. That’s because even though China was the first country hit by COVID-19, it controlled the disease quicker than others. Unlike other major economies, it avoided an economic recession and is expected to see 2% growth this year. The U.S. economy is expected to shrink by 5%. The report says even a strong rebound in 2021 won’t be enough to beat out China in the long run.
Read More: Bloomberg, BBC, The Guardian, Cebr
Bitcoin Hits New High
Bitcoin surged to another new high, hitting more than $28,000 Sunday. Earlier this month, it surpassed $20,000 for the first time. As of now, Bitcoin is up about 275% compared to the same time last year. There could be some unintended consequences though. For example, some say this could come with more scrutiny from regulators which could lead to more rules and oversight. Bitcoin had a similar spike in 2017 which eventually fizzled.
Read More: Yahoo!, Bloomberg, Business Insider
Boeing 737 Max Flight Diverts
Only weeks after the FAA cleared it to fly again, one of Boeing’s 737 Max jets was forced to make an emergency landing. It happened during an Air Canada flight between Arizona and Montreal last week. Just after takeoff, pilots had to shut down one of the engines because they got an alert about it. They diverted the flight to Tucson, Arizona, and landed safely. No passengers were on board, only three crew members. Safety experts say glitches like this are common and sometimes go unnoticed.
Read More: Bloomberg, Reuters, CNBC, Aviation24.be
Ravens Fined for COVID-19 Outbreak
The NFL fined the Baltimore Ravens $250,000 for breaking the league’s COVID-19 rules. This stems from an outbreak last month when roughly two dozen Ravens players ended up on the reserve COVID-19 list, including star quarterback Lamar Jackson. It forced several games to be postponed. That said, the punishment isn’t as bad as what some other teams have faced. Pressure is on for teams to avoid an outbreak now, with playoffs starting in less than two weeks.
Read More: USA Today, NFL, NBC Sports, The Athletic
Bucs Make Playoffs
Quarterback Tom Brady helped the Tampa Bay Buccaneers make the playoffs for the first time in 13 years. He used to be a star player for the New England Patriots. This season, he transferred to Tampa Bay. It seems to be paying off for the Bucs. They punched their ticket to the playoffs Saturday when they beat the Detroit Lions 47-7. Brady’s former team, The Patriots, did not make the playoffs this year for the first time in 12 years.
Read More: ESPN, Fox News, Buccaneers
‘Wonder Woman’ Sequel Fast-Tracked
Wonder Woman 1984 scored the highest box office opening of the pandemic. The movie hit both theaters and streaming in the U.S. on Friday. Since then, it’s raked in about $17 million at U.S. theaters and nearly half of HBO Max’s retail subscribers watched the movie on Christmas Day alone. The studio behind it, Warner Media, says this has exceeded expectations, so it’s fast-tracking its next Wonder Woman movie. Actress Gal Gadot is in for a third installment, as well as writer and director Patty Jenkins.
Read More: Engadget, The Verge, CNBC, AP, Warner Media
Money Monday: Americans Spending More on Pets
Americans are spending more money on their pets during a pandemic. This year alone, the American Pet Products Association estimates people will spend a record $99 billion on them. The founder of the pet gear brand Fable told CNBC there seems to be two reasons for the trend. For one, families are spending more time at home with their pets these days. Also, more people adopted pets this year since they wanted a companion to help them ride out 2020. Owners are spending more on everything from pet food to toys to veterinary care.
Read More: CNBC, Reuters, APPA